The Knowledge Foundation Charity Accounts

COMPANY REGISTRATION NUMBER: 09761656

CHARITY REGISTRATION NUMBER: 1166987

The Knowledge Foundation

Company Limited by Guarantee

Unaudited Financial Statements

For the year ended

31 December 2025

The Knowledge Foundation

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2025

	Pages

Trustees' annual report (incorporating the director's report)	1 to 2

Chartered accountants report to the board of trustees on the preparation of the unaudited statutory financial statements	3

Statement of financial activities (including income and expenditure account)	4

Statement of financial position	5

Notes to the financial statements	6 to 10

The Knowledge Foundation

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 December 2025

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2025 .

Reference and administrative details

Registered charity name	The Knowledge Foundation

Charity registration number	1166987

Company registration number	09761656

Principal office and registered	4 Hill Street
office	London
	W1J 5NE

The trustees

	S A Jones	(Resigned 15 April 2025)
	S R Debeer
	G Kantas	(Appointed 15 April 2025)

Company secretary	Mrs D Forsdick

Accountant	Mackenzie Field
	Chartered Accountants
	Hyde House
	The Hyde
	Edgware Road
	London
	NW9 6LA

Structure, governance and management

The Foundation is managed by a board of Trustees supported by the Secretary.

Objectives and activities

The principal objectives of the Foundation is the advancement of education in the United Kingdom and the United States of America.

Achievements and performance

The trustees continue to consider a number of causes before making further grants.

Financial review

The charity holds funds, for support of its charitable objects, the sum of US$3,453,104 derived from, principally, the £3m endowment made to the charity in 2016.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 3 July 2026 and signed on behalf of the board of trustees by:

S R Debeer

Trustee

The Knowledge Foundation

Company Limited by Guarantee

Chartered Accountants Report to the Board of Trustees on the Preparation of the Unaudited Statutory Financial Statements of The Knowledge Foundation

Year ended 31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of The Knowledge Foundation for the year ended 31 December 2025, which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes from the charity's accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the board of trustees of The Knowledge Foundation , as a body, in accordance with the terms of my engagement letter dated 8 August 2022. My work has been undertaken solely to prepare for your approval the financial statements of The Knowledge Foundation and state those matters that I have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than The Knowledge Foundation and its board of trustees, as a body, for my work or for this report.

It is your duty to ensure that The Knowledge Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Knowledge Foundation . You consider that The Knowledge Foundation is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of The Knowledge Foundation . For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Mackenzie Field Chartered Accountants

Hyde House The Hyde Edgware Road London NW9 6LA

3 July 2026

The Knowledge Foundation

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 December 2025

	2025		2024
	Unrestricted funds	Total funds	Total funds
Note	USD	USD	USD

Income and endowments

Donations and legacies	5	82,669	82,669	–
Investment income	6	29,986	29,986	–
		---------	---------	----
Total income		112,655	112,655	–
		---------	---------	----

Expenditure

Expenditure on charitable activities	7,8	1,218	1,218	–
		---------	---------	----
Total expenditure		1,218	1,218	–
		---------	---------	----

	---------	---------	----
Net income and net movement in funds	111,437	111,437	–
	---------	---------	----

Reconciliation of funds

Total funds brought forward	3,341,667	3,341,667	3,341,667
	------------	------------	------------
Total funds carried forward	3,453,104	3,453,104	3,341,667
	------------	------------	------------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The Knowledge Foundation

Company Limited by Guarantee

Statement of Financial Position

31 December 2025

	2025	2024
Note	USD	USD

Fixed assets

Investments	12	3,400,988	–

Current assets

Cash at bank and in hand	127,867	3,344,374

Creditors: amounts falling due within one year	13	75,751	2,707
		---------	------------
Net current assets		52,116	3,341,667
		------------	------------
Total assets less current liabilities		3,453,104	3,341,667
		------------	------------
Net assets		3,453,104	3,341,667
		------------	------------

Funds of the charity

Unrestricted funds		3,453,104	3,341,667
		------------	------------
Total charity funds	14	3,453,104	3,341,667
		------------	------------

For the year ending 31 December 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 3 July 2026 , and are signed on behalf of the board by:

S R Debeer

Trustee

The Knowledge Foundation

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 4 Hill Street, London, W1J 5NE.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in US dollars, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

4. Limited by guarantee

The company is limited by guarantee. Every member of the charity undertakes to contribute such amount as may be required (not exceeding £10) to the charity's assets if it should be wound up while he or she is a member or within one year after he or she ceases to be a member, for payment of the charity's debts and liabilities contracted before he or she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves.

5. Donations and legacies

Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
USD	USD	USD	USD

Donations

Donations	82,669	82,669	–	–
	--------	--------	----	----

6. Investment income

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	USD	USD	USD	USD
Bank interest receivable	29,986	29,986	–	–
	--------	--------	----	----

7. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	USD	USD	USD	USD
Support costs	1,218	1,218	–	–
	-------	-------	----	----

8. Expenditure on charitable activities by activity type

	Support costs	Total funds 2025	Total fund 2024
	USD	USD	USD
Governance costs	1,218	1,218	–
	-------	-------	----

9. Net income

Net income is stated after charging/(crediting):

	2025	2024
	USD	USD
Foreign exchange differences	87	–
	----	----

10. Staff costs

The average head count of employees during the year was Nil (2024: Nil).

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

11. Trustee remuneration and expenses

- no remuneration or other benefits from employment with the charity or a related entity were received by the trustees; or

12. Investments

	Cash or cash equivalents
	USD
Cost or valuation
At 1 January 2025	–
Additions	3,400,988
	------------
At 31 December 2025	3,400,988
	------------
Impairment
At 1 January 2025 and 31 December 2025
Carrying amount
At 31 December 2025	3,400,988
	------------
At 31 December 2024	–
	------------

All investments shown above are held at valuation.

13. Creditors: amounts falling due within one year

	2025	2024
	USD	USD
Accruals and deferred income	75,751	2,707
	--------	-------

14. Analysis of charitable funds

Unrestricted funds

	At 1 January 2025	Income	Expenditure	At 31 December 2025
	USD	USD	USD	USD
General funds	3,341,667	112,655	(1,218)	3,453,104
	------------	---------	-------	------------

	At 1 January 2024	Income	Expenditure	At 31 December 2024
	USD	USD	USD	USD
General funds	3,341,667	–	–	3,341,667
	------------	----	----	------------

15. Analysis of net assets between funds

	Unrestricted Funds	Total Funds 2025
	USD	USD
Current assets	3,453,104	3,453,104
	------------	------------

	Unrestricted Funds	Total Funds 2024
	USD	USD
Current assets	3,341,667	3,341,667
	------------	------------